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News releases

December 2010

November 2010

October 2010

September 2010

  • Is the best already behind us?
    Frankfurt, 30 September 2010
    Eurozone growth was surprisingly strong in Q2 of 2010 but this momentum is unlikely to be sustained as the economy faces up to strong headwinds, according to Ernst & Young's latest quarterly Eurozone Forecast (EEF). As a result the EEF has revised its forecast for the region's growth up to 1.5% this year, primarily based on a remarkable performance by the German economy in Q2, but still predicts a below trend growth of 1.4% for 2011. Eurozone unemployment is still expected to continue rising until mid-2011, peaking at more than 16.3 million.
  • Public sector accounting reforms under way, but convergence of standards in Europe remains a challenge
    London, 23 September 2010
    In the aftermath of the global economic crisis, concerns about accountability, transparency, and sustainability have surged back to the top of the international political agenda. Policymakers are now beginning to recognize that the public sector needs a robust and uniform set of accounting standards according to Towards transparency: a comparative study of governmental accounting in Europe.
  • Collaboration critical to the success of electric vehicle industry
    Montreal, 15 September 2010
    Collaboration is critical if the global electric vehicles industry is to fulfill its potential, according to participants of Ernst & Young's 'Ignition Sessions' – a global series of executive roundtables attended by key stakeholders from across the electric vehicle value chain.
  • Nuclear revival gathers momentum
    Montreal, 14 September 2010
    The world stands on the verge of the largest expansion of nuclear power since the 1980s, according to research by Ernst & Young, with 65 reactors under construction in 15 countries, a further 120 being actively pursued and many existing reactors being refurbished.
  • The global gas challenge
    Montreal, 13th September 2010
    Uncertainty over the level of future gas demand is at its highest in decades, according to a new report, The Global Gas Challenge, released today by leading professional services organization Ernst & Young. This uncertainty could result in future supplies being inadequate to meet the projected growth in demand. While global gas demand is forecast to grow by 1.5% per annum through to 2030 by the International Energy Agency, actual growth will be influenced by a number of unpredictable factors.

August 2010

  • Proposals on lease accounting will significantly affect industries
    London, 18 August 2010
    The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) yesterday released a proposal to improve the accounting for leases under both IFRS and US GAAP. The proposal is designed to provide a single model for lease accounting for both lessees and lessors – a "right of use" approach.
  • Big-ticket technology deals resume in Q2 2010
    London, 5 August 2010
    Big-ticket merger-and-acquisition (M&A) deals returned to the global technology sector in the second quarter of 2010 (Q2'10), with seven transactions valued at more than US$1 billion, according to a new report by Ernst & Young.
  • European private equity buy-outs increase for five consecutive quarters
    London, 2 August 2010
    European private equity buy-out activity across 15 countries* consolidated its recovery in the second quarter of 2010 (Q2'10) with 125 buy-outs in Europe.

July 2010

  • IFRS 4 presents major opportunities for global insurance industry
    London, 30 July 2010
    International Financial Reporting Standard (IFRS) 4 Insurance Contracts presents major opportunities for global insurance industry. See report.
  • Enterprise customers deliver mixed messages for telcos as trusted ICT service providers
    London, 22 July 2010
    Despite making inroads in the enterprise market beyond legacy connectivity services, telecom operators face a tough time convincing business customers that they can be trusted providers of information and communication technology (ICT) services. Fifty-six percent of respondents believe that the telcos should stick to their core business, rather than being all things to all people, according to a new survey by Ernst & Young - Beyond connectivity: can telecoms operators offer new services to business customers?
  • Data deluge driving telecoms sector top business risks in 2010
    London, 20 July 2010
    Telecoms operators across the world are facing an explosive surge in the volume of data traffic across their networks, creating pressures and risks across their operations, according to a new report by Ernst & Young.
  • Working capital performance deteriorates at two-thirds of companies
    London, 19 July 2010
    Nearly two-thirds of the companies included in the annual Ernst & Young working capital survey reported deteriorations in performance in 2009 compared to 2008, with cash-to-cash (C2C) increasing by as much as 6% in the US and 3% in Europe.
  • Global IPO activity sustains momentum in Q2 despite market volatility
    London, 7 July 2010
    Global IPO activity in the second quarter of the year showed signs of resilience despite current market conditions, both in terms of funds raised and number of deals. Listings were mainly driven by a strong Asian market and also by increased listings in the US and Europe according to Ernst & Young's Q2 2010 Global IPO update and the Global IPO trends report 2010.

June 2010

  • Sovereign debt crisis hits Eurozone economic growth
    Frankfurt, 24 June 2010 
    The imminent threat of default may have passed but the crisis is far from over in the Eurozone, according to Ernst & Young's quarterly Eurozone Forecast (EEF).The EEF has revised its forecast for the region's growth down to 0.8% this year and 1.3% for 2011. Furthermore, unless the Eurozone seriously tackles structural reforms that are the root of the massive challenges it faces, the risks of an economic "lost decade" like that of Japan in the 1990s are significant, particularly for countries in Southern Europe.
  • 2010: a critical year for oil and gas companies' tax regime
    London, 22 June 2010 
    Ernst & Young today publishes its second annual Global Oil and Gas Tax Guide 2010 summarizing the oil and gas tax regimes in 57 countries. This year the guide introduces 17 new countries across the Americas, Africa, Europe, the Middle East and the Far East regions.
  • Seventy-three percent of global media and entertainment CFOs say digital and mobile content are greatest future revenue opportunities despite current profit pressures
    New York, 17 June 2010 
    CFOs from 75 of the world's largest media and entertainment companies are optimistic about revenue potential from the Internet and mobile devices in spite of declining revenues, according to Ernst & Young's 2010 global media and entertainment CFO study. The report, Poised for digital growth: Preserving profitability in today's digital world, offers insights from CFOs on the future of digital distribution, the Internet, mobile devices and the impact on their companies.
  • Global demand for electric cars could outweigh near-term supply
    Detroit, 16 June 2010 
    Over 25% of drivers surveyed across US, Europe, China and Japan said they would likely consider purchasing plug-in hybrid (PHEVs) or electric vehicle (EVs), as soon as they become available on the market, according to research by Ernst & Young's Global Automotive Center.
  • The Hedge Fund Journal announces Tomorrow's Titans
    New York, 14 June 2010
    The survey, conducted by The Hedge Fund Journal and sponsored by Ernst & Young, identifies the top 40 hedge fund industry leaders of tomorrow based on information gathered from a wide range of industry participants and allocators.
  • Regulation overtakes reputation as biggest risk concern for asset management CROs
    London, 14 June 2010
    Increased regulatory interest has overtaken reputation as the biggest risk concern for asset management chief risk officers (CROs) with the desire to optimize capital and liquidity springing into third place, according to Ernst & Young's second annual industry risk management study.
  • ICAP's Michael Spencer named Ernst & Young World Entrepreneur Of The Year 2010
    Monte Carlo, 6 June 2010
    Michael Spencer, Group CEO of the UK's ICAP plc, was last night named the Ernst & Young World Entrepreneur Of The Year 2010 at an awards ceremony held in Monte Carlo's Salle des Etoiles. Spencer was picked from among the more than 50 country finalists vying for the title, each of whom had already been named the Ernst & Young Entrepreneur Of The Year in their home countries. The 2010 awards ceremony marks the tenth consecutive year the Ernst & Young World Entrepreneur Of The Year has been held.

May 2010

April 2010

  • Biotech industry showing resilience despite challenging conditions
    NewYork, 28 April 2010
    The global biotechnology industry was able to weather the continued worldwide economic turmoil and deliver a strong financial performance in 2009, with the world's established biotech centers reaching profitability for the first time in history.
  • Power and utilities sector near tipping point as smart future beckons
    London and Dusseldorf 22 April 2010
    Seeing energy differently, a new Ernst & Young report released today, analyses a sector on the point of massive change with a new consumer model, new entrants, new services and new ways of delivering them.
  • Striking a balance 
    London, 21 April 2010
    In a new outlook issued today the Ernst & Young Global Oil & Gas Center says that oil and gas industry fundamentals are improving in line with the global economy. Developing countries continue to take the lead in terms of growth, with positive indicators throughout the globe and with generally rising economic expectations, energy market sentiment remains relatively positive.
  • Eurozone catches another cold but limps toward late 2010 recovery
    Frankfurt, 16 April 2010
    Although many of its large members were among the first countries to emerge from recession last year, the short-term outlook for the Eurozone remains challenging with GDP growth expected to rise by only 1% in 2010 and 1.6% in 2011, according to Ernst & Young's new quarterly Eurozone Forecast (EEF), released today.
  • Twice as many global b usinesses actively seeking M&A targets in next 12 months, compared with six months ago
    London, 15 April 2010
    Optimism is growing in the global M&A environment as 57% of businesses state they are likely or highly likely to acquire other companies in the next 12 months, almost double that of the 33% six months ago, according to a new study of over 800 senior executives around the world by Ernst & Young.
  • Add water systems to US infrastructure challenges, says Infrastructure 2010: an investment imperative
    Boston, 13 April 2010
    More and more urban areas throughout the United States – in both dry and rainy locales -- are facing growing pressures on their water infrastructure systems, necessitating both greater investments for overhaul and a change in development patterns that are more conducive to conservation, according to Infrastructure 2010: An Investment Imperative, a new publication released today by the Urban Land Institute and Ernst & Young.
  • Strong global IPO market in Q1 sets tone for 2010
    London, 8 April 2010
    Global IPO activity in the first quarter of 2010 showed substantial improvement over Q1 2009. Results were driven by an ongoing robust Asian market and the revival of European listings, according to Ernst & Young's Q1 2010 Global IPO update.
  • Nimble and astute, private equity bounces back
    London, 6 April 2010
    While 2009 was a challenging year for private equity (PE) on all fronts, it has offered a window into the industry's flexibility in adapting to a changing economic environment. 2010 is already exhibiting more robust global PE activity as funds look to invest and divest in a more stable economic setting, according to a new report released today by Ernst & Young.

March 2010

  • REITs leading real estate out of global financial downturn 
    London and Sydney, 9 March 2010
    Real estate investment trusts (REIT) are leading other property investments out of the global economic downturn largely thanks to the resiliency of the REIT model, according to a report released today by Ernst & Young.

February 2010

  • Deal activity in the consumer products sector hits a 3 year low in Q4 2009 
    London, 19 February 2010
    Deal value and volume in the consumer products (CP) sector continued to fall in Q4 2009, with deal volumes now at a three year low, according to a new quarterly report from Ernst & Young. Moreover, the number of significant deals already announced this year suggests that the sector may have reached the bottom of the market and that deal volumes will start to recover over the course of 2010.
  • Pat Hyek to lead Global Technology Sector at Ernst & Young 
    London, 17 February 2010
    Ernst & Young has appointed Pat Hyek to lead its Global Technology Sector Center.  Pat is based in San Jose, California.
  • Positive outlook as global technology M&A shows growth 
    London, 15 February 2010
    Mergers and acquisitions (M&A) activity in the global technology sector grew for the third consecutive quarter in Q4 2009, bringing optimism for continued growth in 2010, according to a new report by Ernst & Young.
  • European insurers must rebuild capital while seeking growth opportunities in 2010, according to Ernst & Young 
    London, 11 February 2010
    While many European insurers weathered the financial crisis better than their bank counterparts, many were shaken by investment losses and capital constraints that are expected to present additional challenges in 2010, according to Ernst & Young's Global Insurance Center 2010 European Insurance Outlook.
  • Progressi ons report from Global Life Sciences Centre 
    NewYork, 11 February 2010
    Information technology (IT) companies, large retailers, and telecommunication firms are strategically poised to capitalize on rapid changes taking place in health care, and pharmaceutical companies are increasingly looking for innovative ways to collaborate with these new players to reach and improve outcomes for patients.
  • Economic recovery will bring opportunities, challenges to the Far East insurance market in 2010, says Ernst & Young
    Hong Kong, 8 February 2010
    While mature markets are more saturated, strong prospects for economic growth in the emerging markets and a relatively young insurance sector in the many parts of the Far East offer great opportunities – as well as challenges – for those companies prepared to invest for the long haul, according to Ernst & Young's Global Insurance Center 2010 Far East Insurance Outlook.
  • European investment funds failing to reap benefits of IFRS
    London, 8 February 2010
    Despite the G20's call for the setting up of high-quality global accounting standards, there is little evidence that International Financial Reporting Standards (IFRS) are being embraced by the European investment fund industry and its supervisors, finds a new Ernst & Young survey.
  • Global corporates are tiptoeing cautiously into 2010
    London, 2 February 2010
    A comprehensive survey of senior executives at nearly 900 major companies worldwide by Ernst & Young reveals a very different business environment compared to twelve months ago but highlights a corporate world that for the most part is still nervous about recovery.
  • Banks need to win customer loyalty war as one in ten Europeans plan to change banking provider this year
    Madrid and Paris, 1 February 2010
    The financial crisis has caused customers to change their attitude towards their banks, finds new research from Ernst & Young. If they are not changing provider, then some customers are looking to diversify their banking portfolio spreading financial products across a number of different institutions to minimize their exposure to perceived risks.

January 2010

  • Globalization to resume in 2010 after temporary blip
    Davos, 29 January 2010
    A report released today by Ernst & Young in cooperation with the Economist Intelligence Unit (EIU) highlights how globalization slowed during the financial crisis and the subsequent downturn. But as the economy recovers in 2010 the growth of globalization will once again resume, although at a slower pace than in the past decade, the report predicts.
  • Diversity drives innovation
    Davos, 27 January 2010
    Ernst & Young today released a report that cites diversity of thinking as a key driver of innovation within companies. It highlights how innovation is sparked by the clashes of ideas created from diverse perspectives. The full report is available at www.ey.com/globalmindset.
  • 2010: a critical year for IFRS, says Ernst & Young
    London, 25 January 2010
    2010 will be a critical year for the progression of International Financial Reporting Standards (IFRS), with more countries commencing their conversion to IFRS. These include Canada, India and much of South America.
  • Upstream oil & gas companies winners in a choppy M&A market
    London, 18 January 2010
    The last twelve months has been a challenge for many companies in the oil and gas sector, but there have been substantial opportunities for those with strong balance sheets. And the outlook for 2010 is looking positive, according to Ernst & Young's third annual Global oil and gas transactions review.
  • Are US drivers beginning to get switched on to electric cars?
    Detroit, 13 January 2010
    Over 10% of US drivers surveyed said they would consider purchasing a plug-in hybrid or electric vehicle, according to a survey by Ernst & Young's Global Automotive Center. The report canvassed the views of a thousand American licensed drivers to gauge consumer awareness and interest of plug-in hybrid and electric vehicles in the market.
  • Almost 50% of investors, analysts and lenders believe impairments are below expectations
    London, 11 January 2010 
    Impairments reported during the last two years were lower than expected according to 47% of investors, analysts and lenders, in a new survey released today by professional services organization, Ernst & Young.
Ernst & Young press releases
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